Based on that, the firm needs to constantly learn and develop its knowledge in order to have valuable expertise to sell to clients who are educated in the process. Firm A has a high degree of interaction with its clients; Firm B has a high level of innovation while firm C reduces their dependence on the individual professionals to a minimum.
According to EganBerry has been noted as one of the first to introduce the concept of relationship marketing which Master thesis customer satisfaction defined as the attracting, the maintaining and the enhancing of customer relationships.
As can be viewed in table 2. Inseparability is referred to as production and consumption occurring simultaneously Gordon et al.
Hence, satisfaction alone is inadequate to ensure long-term customer commitment to a single provider. The authors argue that switching costs may act as a present psychological exit barrier even when performance of the core service is less than satisfactory.
Summarized analysis of the factors influencing customer retention The framework provided has two functions; its first function is to examine the main effects of the three variables on customer retention independently and its second function is to examine the interaction effects that Master thesis customer satisfaction and switching barriers has on customer retention in the presence of satisfaction.
They bring to the firm their expertise, their experience, their skills in relationship building and maintenance, their professional reputation, their network of professional peer contacts, and their established relationships with past, present, and potential clients. Consequently, if one wants to study the success and failure determinants of any relationship, the study of both partners behavior in the interactive process is necessary ibid.
Outline of the thesis This thesis consists of six chapters including the introduction, the literature review, the methodology, the data presentation, the data analysis and finally, the conclusions and implications chapter.
The strategies employed by the firms are highly customized to each individual customer. It is concerned with the interaction between the service provider and service receiver, and is assessed in a highly subjective manner.
Due to such complications it becomes hard for the service manager to know for sure if the service is being delivered in a way that is consistent with what was originally planned ibid. Trust is developed successively as a result of gradual dependence on the relationship resulting from mutual adaptation to the other party s needs ibid.
Perceived switching barriers - The perceived switching barriers are conceptualized as the consumers evaluation of the resources and opportunities needed to perform the act of switching as well as the constraints preventing it Ranaweera and Prabhu, Final Conclusions Implications and Recommendations Implications for theory Implications for management Implications for future research Hitt, Bierman, Shimizu and Kochhar argue that information asymmetries exist due to the fact that clients can determine the quality of the service only after it is has been delivered.
Lowendahl, Information Asymmetry Lowendahl argues that professional service firms are unique due to the fact that their value added results from superior knowledge. The credibility of the promise made by the firm is affected by the firm s reputation, its ability to present documented success from previous projects, and also by the professionals assigned to the project.
This became the main motive for the present study. Hence, the greater is the level of trust, the stronger is the relationship commitment ibid. Technical quality is related to the actual outcomes or the core service as perceived by the client.
The purpose of such is to educate and keep clients informed about their investments in a language that they can understand. This was the definition of Crosby et al.
The extent of ambivalence - The third factor is the extent of ambivalence meaning insecurity caused by the range of choices. The time frame for this thesis was ten weeks within which I have gained increased knowledge on the concept of customer retention within professional service firms but foremost, I have gained increased knowledge on how to conduct a thesis on my own.
The model consists of three factors such as communication effectiveness, technical quality and functional quality, all affected by trust in the relationship which in turns affect relationship commitment.
Zeithalm and Bitner argue that as production and consumption occur simultaneously, it becomes difficult to apply a mass production strategy. Lowendahl argues that in many cases, their standard advices are not only wrong but even damaging to firms operations. In order to retain customers in industries characterized by high competition, firms need to meet each individual customer s needs and expectations ibid.
Ranaweera and Prabhu, Gounaris argues that trust is a vital element in any type of relationship.
If the alternatives available are not considered as being good conversion may then be delayed in spite of dissatisfaction. Thus, the overall purpose of this thesis is as follows: Therefore in this section of the thesis, frameworks and models illustrating the factors influencing customer retention based on the customers point of view will be outlined.
Consequently, it is argued that the greater the perceived technical quality, the stronger is the trust in the relationship, and the greater the perceived quality of the advisor, the stronger is the level of trust in the relationship.
Morgan and Huntargue that this change has led to an increase in studies focusing on the factors and mechanism determining the establishment, development and maintenance of successful relational exchanges.Managing Customer Expectations How Customer Expectations are Formed and Identified During a Consideration of Expectations to Enhance Customer Satisfaction How Customer Expectations are Formed and Identified During a Project Delivery Master’s Thesis E Master Thesis - Download as PDF File .pdf), Text File .txt) or read online.
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A STUDY OF CUSTOMER SATISFACTION FACTORS AND EMPLOYEE SATISFACTION IN THE HOSPITALITY INDUSTRY By Ksenia Novikova B.S., Voronezh State University, A Thesis Submitted in Partial Fulfillment of the Requirements for the Master of Science in Recreation Degree.
Phd Thesis On Service Quality And Customer Satisfaction. phd thesis on service quality and customer satisfaction CUSTOMER SATISFACTION TOWARDS SERVICE QUALITY OF FRONT OFFICE STAFF AT THE HOTEL A MASTER S PROJECT BY ALIN SRIYAM Presented in Partial Fulfillment of the sercive quality affects to customer satisfaction.Download